SABELON: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
SABELON
Largest movements
- Tangible fixed assets +€984,516
new in 2025: €984,516
of which Assets under construction and advance payments: +€975,187
- Receivables within one year +€126,671
up €126,671 (+15,980%), from €793 to €127,463
of which Trade receivables: +€127,463
- Cash +€112,412
up €112,412 (+115%), from €98,057 to €210,469
mainly Other debts (+€8.4m) and Debts after one year (+€750,000)
- Other debts +€8.4m
new in 2025: €8.4m
- Trade debts -€8.3m
down €8.3m (-97.9%), from €8.5m to €179,336
- Debts after one year +€750,000
new in 2025: €750,000
- Tax, wage and social debts +€212,549
new in 2025: €212,549
of which Remuneration and social security: +€114,600
- Profit (loss) carried forward +€155,089
up €155,089, from -€6,426 to €148,663
- Gross operating margin +€1.4m
up €1.4m, from -€4,030 to €1.4m
- Staff costs +€1.1m
up €1.1m (+56,597%), from €2,009 to €1.1m
- Taxes +€62,040
new in 2025: €62,040
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €8,598,850 | €9,825,548 | +€1.2m | +14.3% |
| Fixed assets | 21/28 | €8,500,000 | €9,487,616 | +€987,616 | +11.6% |
| Tangible fixed assets | 22/27 | - | €984,516 | +€984,516 | |
| Furniture and vehicles | 24 | - | €9,330 | +€9,330 | |
| Assets under construction and advance payments | 27 | - | €975,187 | +€975,187 | |
| Financial fixed assets | 28 | €8,500,000 | €8,503,100 | +€3,100 | 0.0% |
| Current assets | 29/58 | €98,850 | €337,932 | +€239,082 | +242% |
| Amounts receivable within one year | 40/41 | €793 | €127,463 | +€126,671 | +15,980% |
| Trade receivables | 40 | - | €127,463 | +€127,463 | |
| Other amounts receivable | 41 | €793 | - | -€793 | |
| Cash at bank and in hand | 54/58 | €98,057 | €210,469 | +€112,412 | +115% |
| Total equity and liabilities | 10/49 | €8,598,850 | €9,825,548 | +€1.2m | +14.3% |
| Equity | 10/15 | €93,574 | €248,663 | +€155,089 | +166% |
| Contributions | 10/11 | €100,000 | €100,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€6,426 | €148,663 | +€155,089 | |
| Amounts payable | 17/49 | €8,505,276 | €9,576,885 | +€1.1m | +12.6% |
| Amounts payable after more than one year | 17 | - | €750,000 | +€750,000 | |
| Financial debts | 170/4 | - | €750,000 | +€750,000 | |
| Amounts payable within one year | 42/48 | €8,505,276 | €8,826,885 | +€321,609 | +3.8% |
| Trade debts | 44 | €8,505,276 | €179,336 | -€8.3m | -97.9% |
| Suppliers | 440/4 | €8,505,276 | €179,336 | -€8.3m | -97.9% |
| Taxes, remuneration and social security | 45 | - | €212,549 | +€212,549 | |
| Taxes | 450/3 | - | €97,949 | +€97,949 | |
| Remuneration and social security | 454/9 | - | €114,600 | +€114,600 | |
| Other amounts payable | 47/48 | - | €8,435,000 | +€8.4m | |
| Remuneration, social security and pensions | 62 | €2,009 | €1,138,754 | +€1.1m | +56,597% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €205 | +€205 | |
| Other operating charges | 640/8 | €387 | €2,789 | +€2,402 | +620% |
| Gross operating margin | 9900 | -€4,030 | €1,358,398 | +€1.4m | |
| Operating profit (loss) | 9901 | -€6,426 | €216,650 | +€223,076 | |
| Financial income | 75/76B | - | €785 | +€785 | |
| Recurring financial income | 75 | - | €785 | +€785 | |
| Financial charges | 65/66B | - | €305 | +€305 | |
| Recurring financial charges | 65 | - | €305 | +€305 | |
| Profit (loss) for the period before taxes | 9903 | -€6,426 | €217,129 | +€223,555 | |
| Income taxes | 67/77 | - | €62,040 | +€62,040 | |
| Profit (loss) for the period | 9904 | -€6,426 | €155,089 | +€161,515 | |
| Profit (loss) for the period to be appropriated | 9905 | -€6,426 | €155,089 | +€161,515 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 15 October 2026 via checked.be.